Equity linked mortgage
The mortgage definition for Equity linked mortgage:
The lender takes ownership of a stake in the equity of the property. This means that they lend you less than the full amount that is required to buy the home. Interest is only charged on the amount that they lend you and not on the full value of the property. When you sell the property, the lender receives payment in proportion to the amount of equity that they own, and therefore benefits from any increase in the price of the property.
Assumable mortgageAssumable mortgage
A mortgage that can be transferred to another borrower.
Balloon mortgageBalloon mortgage
A mortgage in which monthly installments are not large enough to repay the loan by the end of the term. As a result, the final payment due is the lump sum of the remaining principal.
Biweekly mortgageBiweekly mortgage
A mortgage that requires payments every two weeks and helps repay the loan over a shorter term.
Further Suggestions Blanket mortgage
Buy down mortgage
Cap & collar mortgage
Capped rate mortgage
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